Alphabet (NASDAQ:GOOGL) PT Raised to $205.00

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective boosted by analysts at Oppenheimer from $185.00 to $205.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the information services provider's stock. Oppenheimer's price target points to a potential upside of 19.22% from the company's current price.

A number of other brokerages have also recently commented on GOOGL. Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday. Canaccord Genuity Group upped their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on Alphabet from $165.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday. Needham & Company LLC upped their price target on Alphabet from $160.00 to $210.00 and gave the company a "buy" rating in a research report on Friday. Finally, JMP Securities upped their price target on Alphabet from $160.00 to $200.00 and gave the company a "market outperform" rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $187.82.

Alphabet Stock Up 10.2 %

Shares of NASDAQ:GOOGL traded up $15.95 during mid-day trading on Friday, hitting $171.95. 64,637,980 shares of the company traded hands, compared to its average volume of 30,650,268. The stock has a market cap of $2.14 trillion, a P/E ratio of 29.65, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71. The stock has a 50-day moving average price of $147.85 and a two-hundred day moving average price of $141.39.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analysts' expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts forecast that Alphabet will post 6.78 earnings per share for the current year.

Insider Activity

In other news, Director John L. Hennessy sold 2,100 shares of the firm's stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company's stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 in the last quarter. 0.88% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter worth $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider's stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, Macroview Investment Management LLC grew its holdings in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider's stock worth $42,000 after acquiring an additional 199 shares during the period. Institutional investors own 40.03% of the company's stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.